The post Litecoin Halving: What to Expect From the LTC Price in the Next 100 Days! appeared first on Coinpedia Fintech News
Litecoin price has displayed immense strength ever since the price dropped heavily after the Terra collapse. The price was also impacted due to the FTX fallout, but soon rebounded and recovered losses before the end of the year 2022. Presently, the token is heading towards crucial 3-digit resistance and is believed to slice through these levels to trigger a notable bull rally ahead.
With the growing market sentiments, Litecoins price is also gaining huge attention as a social activity, and market activity for the token has risen significantly. The price recently bounced from the horizontal support, which also collided with the 200 EMA, while the next resistance lies above $100. Hence, a breakout above these levels would be bullish, which may signal a continuation of the trend ahead.
The LTC price is trading within a rising parallel channel, which appears to be bullish. The price rebounded from the average levels of the channel, displaying its potential to reach the upper resistance of the channel. Hence, a steep upswing may lead to a v-shape recovery that may surge beyond the major resistance at $102 in the coming days. Surging beyond these levels may validate the diminished bearish interference, which may trigger a fine upswing ahead.
While the price is gaining momentum, traders still do not appear to have shifted their focus on Litecoin. The daily active addresses, which determine the popularity and demand of the platform, have dropped severely. This indicates lowered activity on the platform as market participants remain aloof.
The daily address count, which records all the addresses that have performed either a buy, a sell, or a swap trade, is recorded only once per day. The raised levels indicate the growing demand for crypto, which may further impact the price in a positive way. Unfortunately, the levels have dropped, indicating less participation by market participants, which may not be good for a healthy rally.
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